Euro Pacific Precious Metals, which Schiff founded in 2010 to sell gold and silver, said Wednesday it will accept bitcoin for payment through a partnership with BitPay.

Bitcoin, of course, is a digital currency that is created through a cryptographic process rather than by a central bank. The decentralized network that transmits bitcoins has been touted as a more efficient way to send money around the world.

It doesn\’t matter who takes over as the next chair of the Federal Reserve because the central bank isn\’t going to slow its monthly asset purchases.

“It’s like choosing how you want to be executed,” said Peter Schiff of Euro Pacific Capital in an animated address ahead of an investment banking conference held by his firm in Manhattan Tuesday.

Bloomberg

Peter Schiff

Schiff\’s remarks come as investors brace for a reduction in the Fed\’s asset purchases as soon as next week, and as investors also anticipate President Obama will name the next Fed chair by December. That decision, which analysts say is likely down to front-runner Larry Summers, a former Obama Administration adviser, and Fed Vice Chair Janet Yellen, has taken on new urgency because of the impending shift in monetary policy.
“Ben Bernanke is a pilot,” said Schiff, known for his doomsday forecasts for the U.S. economy, including calls about Zimbabwe-style hyperinflation in 2008.

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